Head of Internal Audit

Are you seeking a Chief Audit Executive role in a dynamic financial/insurance organization?

Our client, a leading, rapidly growing, multinational insurance company operating across multiple locations and offering an innovative range of insurance products and solutions, is seeking a Chief Audit Executive to manage their internal audit function, staff, and lead them through a dynamic period of growth. The successful candidate will have extensive audit leadership experience in the Insurance industry, executive presence, in addition to a robust knowledge of internal audit, internal controls, preferably with strong know-how in Sarbanes-Oxley (SOX) and Model Audit Rule (MAR).

What are people saying about this company?

• Excellent Management, very supportive
• Very collaborative and welcoming environment

Title: Group Head of Internal Audit

Location: Hartford County (Hybrid)

Salary: $230,000 – $260,000 +Bonus, LTI

Key Responsibilities:

• Ensure the effectiveness, efficiency, and compliance of internal controls across the entire organization.
• Reporting directly to the Chair of the Audit Committee, lead the Internal Audit function, overseeing the comprehensive evaluation of operational processes.
• Prepare and present reports to the Board of Directors and senior management, highlighting areas of risk and opportunities for improvement within the Group operations.
• Identify, assess, and mitigate risks across various business functions, ensuring compliance with regulatory requirements and contractual obligations.
• Conduct thorough testing to assess the performance and effectiveness of controls, including controls over financial reporting.
• Collaborate closely with the first-line team to design and deploy effective and efficient processes and controls, tailored to operational functions. Promote accountability within the first-line team for the continual refinement and execution of processes and controls.
• Develop and maintain clear and concise documentation for operational procedures, ensuring alignment with internal policies and external regulations.
• Engage in cross-functional initiatives to enhance operational integrity and foster a culture of compliance and risk awareness.
• Leverage the testing skills of Internal Audit to avoid any actual or perceived independence issues while ensuring the effectiveness of control performance.
• Drive the development and implementation of strategies to address emerging risks and regulatory changes.
• Foster strong relationships with key stakeholders, including regulators, external auditors and third-party service providers to facilitate effective communication and collaboration.

Requirements:

• Bachelor's degree in accounting, finance, or a related field; master’s degree preferred.
• CPA, CIA, and/or CISA required
• Minimum of 15-20 years’ relevant audit experience gained within the insurance or financial services industry, including significant leadership experience as Head of Internal Audit.
• Proven track record in leading and managing internal audit teams, fostering excellence and continuous improvement within a rapidly changing environment.
• Demonstrable ability to operate as a commercially minded, strategic business partner to support the company’s continued growth and development.
• Deep knowledge and experience in the design and oversight of processes and controls for the operational functions of a large insurance or financial services company.
• Strong understanding of risk management principles, internal control frameworks, and regulatory requirements relevant to insurance operations, including knowledge of US GAAP and US Statutory Accounting Guidelines.
• Excellent analytical and problem-solving skills, with the ability to identify, assess, and mitigate risks effectively.
• Exceptional communication and interpersonal skills, enabling the establishment of strong relationships at all organizational levels.
• Commitment to integrity, respect, and accountability, with a proactive approach to overcoming obstacles and meeting commitments.
• Deep expertise in business process documentation, risk assessment methodologies, process design, and improvement.